European Union

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The European Union reduced steel exports by 17% y/y in January-August 2022

Shipments of flat rolled products from the EU decreased by 10% y/y in 8 months, and long products – by 22% y/y

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French Aperam applies energy surcharges to its contracts

Starting from October 2022, the company increased the product cost surcharges to €639/t compared to €480/t a month earlier

What does the eighth package of sanctions mean for the steel industry of the EU and the Russian Federation

The European Commission expanded the list of restrictions, but postponed their entry into force until 2023-2024

European governments save steel industry from high electricity prices

Spot electricity prices vary across European countries, and governments are introducing packages of measures to overcome the energy crisis

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Exports to the EU exceeded pre-war indicators in January-September 2022 – Ministry of Economy

The total Ukrainian exports decreased by almost half compared to the pre-war period

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Electricity prices in Italy increased by 2.3 times from the beginning of 2022

In August 2022, the average spot price for electricity in Italy was €537 per MWh, compared to €229.6 per MWh in January 2022

European governments have spent about €500 billion to combat the energy crisis

Analysts believe that state intervention has become structural

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ArcelorMittal has reduced HRC prices in Europe by €40/t

In early September 2022, the company raised product prices, but the determination quickly weakened due to low demand

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Steel distributors in the EU are calling on producers to cut capacity

Steel production must be cut until the market returns to a balance between supply and demand

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The EU to set a price ceiling for electricity at €180 MWh

The cap will apply directly to the price of electricity produced by non-gas plants

European demand for imported steel increased against the backdrop of high domestic prices

Due to the increase in energy costs, local producers are forced to raise the prices of their products

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Gas prices in Europe increased against the backdrop of Russia’s refusal to launch the gas pipeline

The rise in prices was short-term, as high gas reserves in the EU allow for a quick response to panic in the market

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